Since the middle of the twentieth century, business and legal scholars have tried to explain why corporate boards of directors function as they do, but it is not easy work to understand what happens behind the closed doors of boardrooms. Understanding Boards of Directors examines why research on corporate governance has been slow and uneven, and where that research should turn next to be most valuable to practitioners. The author traces the history of research on corporate boards and analyzes the trends in that research, including the relative value of the types of data that researchers in this field have used, and ultimately identifying the best path forward in studying these complex social systems. The author focuses primarily on research that reflects firsthand experience with boards that should provide some guidance for people working in this evolving field and help to understand the true complexity of corporate boards.